A home addition is usually the single most expensive remodeling project that a homeowner will undertake. There are four types of additions that homeowners often do:
- Bathroom Addition
- Family Room Addition
- Master Suite Addition
- Two Story Addition
In the Philadelphia area, on average, homeowners typically spend between $50,000 to $200,000 (midrange) for these jobs and recoup about 50% of their costs when they sell the house.
We can do better…
Let’s take the family room addition as an example. A typical Philadelphia area homeowner will spend on average $102,619 on this project but the resale value is only $58,400. A family room typically accounts for 11% of the space in a house which means that for a 3,000 square foot house a family room is about 330 square feet.
This means that a typical homeowner spends a whopping $311 a square foot on building their family room! In reality their target, to break even, should be $177.
At Barakah Construction, our target price would be significantly lower than even the break even point. How do we achieve it? By being smart and focusing on value without sacrificing quality. Sometimes a homeowner will benefit by using modular construction. Other times, costs can be saved simply by planning a job properly and ensuring that materials are sourced correctly and at the job site right when they’re needed.
If you are ready to get started on your next addition or renovation project please reach out to us today. Our experienced project managers and interior designers can help guide you to the best options for your project.
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